Geothermal energy could play a significant role in ensuring access to affordable, reliable, sustainable and modern energy for all, but production today is only at 7% of the estimated global potential, says UNECE – United Nations Economic Commission for Europe.
Now, however, a globally-applicable, harmonized standard for reporting geothermal resources has become operational. At its 25th session on 30 September 2016, the UNECE Committee on Sustainable Energy approved the Specifications for Application of the United Nations Framework for Fossil Energy and Mineral Reserves and Resources 2009 (UNFC) to Geothermal Energy Resources.
Having an international system and a standardized terminology for reporting geothermal resources will build trust and understanding of the geothermal industry with investors, regulators and the general public alike. The work to develop the UNFC geothermal specifications was carried out under UNECE’s Memorandum of Understanding with the International Geothermal Association (IGA). UNFC is applicable to all extractive activities, renewable energy and injection projects.
The Director of the Sustainable Energy Division of UNECE, Scott Foster, noted “The 2030 Agenda for Sustainable Development has just celebrated its first anniversary. Application of UNFC to renewable energy resources is a priority for our member States, and inclusion of geothermal energy in UNFC will help to attain Sustainable Development Goal #7 by improving the positioning of geothermal within the policy and investment communities.”
Geothermal energy exists in almost 90 countries, but only 24 of them produce electricity from geothermal sources. In 2011 the International Energy Agency (IEA) produced a Technology Roadmap for Geothermal Heat and Power that showed that the world could increase production of heat and electricity from geothermal energy at least 10-fold by 2050. Geothermal energy’s potential as a viable energy option with global scale has been constrained to date by a lack of clear global assessment guidelines and standards.